Jul
07

Illinois Stores are Going to be Crowded Those 10 Days

July 07, 2010

If you’re going to buy your kids school supplies, including clothing and shoes, you might as well do it between August 6 and August 15 and save 5 cents for every $1 you spend in Illinois.

Governor Pat Quinn on Wednesday signed legislation to create the state’s first-ever sales tax holiday. From August 6 to 15, the 5 percent state portion of sales tax will be waived on school-related items. Local government sales tax still has to be paid, which would be 4.75 percent in Chicago.

The reduced sales tax rate will apply to all school supplies — paper, pencils, chalk, crayons, tape, glue, etc. — as well as shoes and clothing that costs less than $100 apiece, including uniforms, outerwear, gloves, hats and mittens.

Might as well stock up for the whole year!

According to Governor Quinn, parents in Illinois spend between $800 million and $1.2 billion every year on their student’s supplies.

“Back-to-school shopping can be expensive and difficult for families that are already struggling to make ends meet,” said Governor Quinn. “From Aug. 6 through 15 the sales tax holiday will boost Illinois businesses while helping every child in Illinois get the school supplies they need to succeed in the classroom.”

Critics are saying that the sales tax holiday could cost our already struggling state more than $50 million in revenue, but the Governor believes the reprieve could generate more sales and possibly even more jobs.

Illinois would be the 15th state to create a back-to-school sales tax holiday. The state of Texas has been doing it since 1999.

Categories: Economy

About The Author

Tracey

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3 Comments

1

I commend Gov Quinn for coming up with this idea. Although it may not seem like a lot of money per person, it saves a huge chunk for the overall economy because school supplies/clothing are some of the biggest expenditures of a parents year aside from Christmas.

2
Tracey

I agree, Josh. Every penny helps in this economy!

3

[...] Residents — and retailers — all over Illinois are gearing up for the state’s first sales tax holiday. [...]

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